Lagos State Government has paid N838 million as accrued pension rights to 141 retirees under the Contributory Pension Scheme(CPS) for the month of February, 2018.
The state governor, Akinwunmi Ambode, who was represented by the Commissioner for Establishments, Training and Pensions, Dr. Benson Akintola Oke, at the 48th Retirement benefit Bond Certificate Presentation Ceremony in Alausa, Ikeja, Lagos, thanked the retirees for their diligent service to the development of the state and wished them a better life in their old age.
He said 8,548 retirees have accrued pension rights of N34,781 billion paid into their Retirement Savings Accounts(RSAs) since the current administration came on board in 2015, imploring the retirees to put their money in business they could manage and not one that would jeopardize their health.
Akintola Oke stressed further that the State Government is committed to providing the retirees with incentives that will give them peace of mind in retirement.
”Let me quickly state here with all sense of humility that His Excellency’s focus on payment of pensioners entitlements which has earned the State accolades is borne out of the need to alleviate and eradicate poverty amongst the elderly in our society,” he stressed.
Speaking earlier, the Director General, LASPEC, Mrs. Folashade Onanuga, promised that the payment of the accrued pension rights will continue to be made monthly by the present administration in the state, noting that the payment is well structured, very transparent and efficient, and is based on the law of equity.
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